Are you one of the many entrepreneurs that are music fans driven, do you love the music industry and would want to start your own independent record label company?
The Nigerian music industry has experienced a tremendous growth since the 90’s, seeing through many successful music artistes across the different genres of music. However, behind every successful artiste is a successful record label company. If you have always wanted to start your own independent record label and you’re wondering what the requirements are for one to start a successful record label without money in Nigeria then this is your answer.
Every seen success is a result of thorough research, hard work and planning- the music industry not left out. For all entrepreneurs that desire a successful record label company below are the requirement and necessary steps in stating a music label-
[b] 1. Business plan- [/b]
Every business requires a feasible business plan- this business plan in this context serves as a road map that simplify your concept. It helps determine the genres of music to deal on, startup cost, number of employees among other pertinent information to be found in your business plan thus serving as a blue print for financial management and building of your desired record label company.
For legitimacy and protection, a standard record label requires a license and proper registration with the right agencies. Licensing and registration of label name protects and provide authorization to run as a label, to purchase and distribute music you will be releasing with your signed artiste.
[b] 3. Record Studio- [/b]
A standard record label should have a studio or be able to control cost when there is recording need for signed artiste. Though, for a start you can choose to accept only finished products or simply create a rapport between your record label and already established record studios to help with the recording, mastering and finishing of tapes.
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[b] 4. Source for Artiste- [/b]
As earlier stated, the business plan helps dictate the kind of artiste to source for, the genres of music they should belong to. The choice of source depends on your capital, you can setup a concert or source semi- established artiste. It is advised to seek professional advice/guidance at this stages, it takes a good ear to discover good music and a good artiste to make a good record label.
[b] 5. Radio contacts/publicity- [/b]
It’s the job of the record label company to publicize their artiste(s) or their works. Create interviews, or record reviews. Also get radio stations to play your artiste studio works. To achieve this, Introduce yourself to major radio marketers, visit different radio stations as much as you can this helps a lot.
[b] 6. Distribution- [/b]
One major need of an artiste is a record label that can distribute their works to all corners of the world. To get your record sold outside the box of your state or country, you will need to use the service of distribution companies, organize sales campaign, use posters, flyers and advertise on billboards.
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Conclusively, originality makes the difference, irrespective of the genre of music or the type of record label company you have set out to achieve remain original to yourself and your plan, avoid being drowned in the crowd, and create a niche for yourself.